Nasdaq started 0.40% lower at 7,757 continuing the heavy sell-off which started yesterday driven by the combination of poor macro data, Brexit developments, and news that the USA would be introducing $7.5bn worth of tariffs on European imports.
On the macro data front another disappointment came from the ISM Non-Manufacturing PMI which came in at 52.6, below market expectations of 55 in September, and the United States Initial Jobless Claims came in at 219K, above expectations of 215K on September 27th
Earlier today European Services and Composite PMIs came in below expectations. Eurozone Retail Sales came in-line with expectations.
Investors now increasing their bets for a cut by Fed later this month, which will be supportive to stocks.